New figures reveal Coventry homebuyers are paying just less than the asking price

HOUSE hunters in Coventry will, on average, be able to purchase property in the region for slightly less than the asking price - new figures show.

Property experts Zoopla have taken a look at house sales in England and Wales from the last year - and have found the areas in which properties achieve the largest percentage of the asking price.

And it shows that nationwide, homes achieve on average 96.3 per cent of the asking price - but buyers in Coventry find themselves having to pay a little closer to the original price.

The figures show that homes in Coventry sell for 98.2 per cent of the original asking price.

With an average property price of £180,000 in the city, this represents a discount of £3,300.

Across the UK Nationwide, homes in Salford, Driffield and Dronfield have sold closest to their initial asking price in the last 12 months.

Property in these areas, in Manchester, East Ridings of Yorkshire and North-East Derbyshire respectively, on average achieve 100 per cent of the initial asking price.

This compares to the nationwide average, which represents a discount of £8,000 on the average value of a home sold.

Meanwhile at the bottom of the list, Mountain Ash in South Wales is England and Wales’ most under-performing town when analysing achieved price to listing price.

Properties here achieved 91.5 per cent of the initial asking price; representing a £6,500 discount on the average property valued at £75,000 in the town.

Close behind is Abertillery also in Wales where homes achieved 91.7 per cent of the asking price, whilst homes in Bishop Auckland in the North East generated 91.8 percent of the initial listing price.

The study analysed the price that properties were initially listed at, and then paired with these with the sold prices from the Land Registry database.

Laura Howard, spokesperson for Zoopla said: “Average homes sold for more than 96 per cent of their initial listing price on Zoopla in the last 12 months, our research has shown.

“In fact, in three towns - Driffield, Dronfield and Salford - there was no difference at all between initial listing prices and selling prices. And even the worst areas for ‘under-achieving’ on listing price - Mountain Ash in Wales only revealed a relatively small price disparity of 8.5 per cent.

“This close relationship between initial listing and final sale prices, points to a healthy and robust property market in which estate agents and sellers alike are well-versed in and realistic about property values.

“Crucially, it’s this which helps to keep the wheels of the housing market well-oiled and turning, independently, and in spite of, the wider more uncertain political factors currently at play.”